We use cookies to improve site performance and enhance your user experience. If you'd like to disable cookies on this device, please see our cookie management page.
If you close this message or continue to use this site, you consent to our use of cookies on this devise in accordance with our cookie policy, unless you disable them.

Close
In association with

Home > Training > Adviser Guides

From Adviser Guide: Independent vs Restricted

Q: What does restricted mean?

Restricted covers all firms – except those offering basic advice - that do not meet the requirements for being independent.

By Emma Ann Hughes | Published Jun 13, 2012 | comments

Due to this broad spectrum of propositions, Andrew Power, lead Retail Distribution Review partner at Deloitte, said the FSA has required firms to explain in writing (and orally where non face-to-face) the nature of this restriction.

He said: “This includes an explanation about whether the advice is limited to retail investment products from a single company, a single group of companies or a limited number of companies.”

Restricted advice is defined by the FSA as a personal recommendation to a retail client in relation to a retail investment product which is not independent advice; or basic advice.

Finished reading all the other articles in this Guide?Bank 1hr of Structured CPD

COMMENT AND REACTION
Most Popular
More on FTAdviser
FTA jobs